Firma Holdings Corp. Financial Ratios — FRMA Stock

Profitability (USD)

	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y
Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	- -	-137.76	6.05	-45.24	-123.15	-25.71	-13.16	-74.52	-107.2
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	- -	- -	- -	- -	-310.18	- -	- -	- -	100
EBITDA Margin (%)	- -	- -	- -	- -	-11,135.75	- -	- -	- -	-2,898.18
Operating Margin (%)	- -	- -	- -	- -	-11,278.45	- -	- -	- -	-3,171.77
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	-6,838.54	- -	- -	- -
Pretax Margin (%)	- -	- -	- -	- -	-11,949.73	- -	- -	- -	-18,593.5
Profit Margin (%)	- -	- -	- -	- -	-9,873.1	- -	- -	- -	-9,498.67
Net Income to Common Margin (%)	- -	- -	- -	- -	-9,873.1	- -	- -	- -	-9,498.67
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -

Credit (USD)

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	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y
Total Debt	- -	- -	- -	6	2	1	2	- -	4
ST Debt	- -	- -	- -	1	1	1	1	- -	2
LT Debt	- -	- -	- -	5	1	- -	1	- -	2
Total Debt/EBITDA	- -	- -	- -	-2.69	-0.11	-0.09	-0.3	-0.03	-1.41
Net Debt/EBITDA	- -	0.43	0.09	-2.16	-0.1	-0.03	-0.14	-0.02	-1.16
Total Debt/EBIT	- -	- -	- -	-2.66	-0.11	-0.08	-0.29	-0.03	-1.29
Net Debt/EBIT	- -	0.42	0.08	-2.13	-0.1	-0.03	-0.13	-0.01	-1.06
EBITDA to Interest Expense	- -	- -	- -	-1.31	-54.6	- -	-348.17	-16.2	-13.91
EBITDA-CapEx/Interest Expense	- -	- -	- -	-2.58	-55.5	- -	-383.38	-19.61	-16.46
EBIT to Interest Expense	- -	- -	- -	-1.33	-55.3	- -	-366.27	-17.42	-15.22
Interest Expense	- -	- -	- -	2	- -	- -	- -	- -	- -
Common Equity/Total Assets	- -	-67.75	-51.9	-43.27	-187.4	-173.81	-180.39	-465.77	-415.01
Long-Term Debt/Equity (%)	- -	- -	- -	99.85	19.25	0.71	7.62	0.61	37.98
Long-Term Debt/Capital (%)	- -	- -	- -	300.53	-5.98	-0.32	-3.24	-0.09	-5.88
Long-Term Debt/Total Assets (%)	- -	- -	- -	37.58	9.14	0.47	4.78	0.37	17.36
Total Debt/Equity (%)	- -	- -	- -	117.76	35.89	6.06	17.81	3.1	85.36
Total Debt/Capital (%)	- -	- -	- -	354.43	-11.16	-2.7	-7.56	-0.44	-13.22
Total Debt/Total Assets (%)	- -	- -	- -	44.32	17.04	4.05	11.17	1.86	39.02
Net Debt to Equity	- -	-42.46	-1.71	94.46	33.05	2.3	8.23	1.43	70.68
Net Debt/Capital (%)	- -	30.38	2.42	951.36	-10.19	-1.01	-3.36	-0.2	-10.7
EBITDA	- -	-2	-1	-2	-18	-7	-6	-4	-3
EBITDA-CapEx	- -	-2	-1	-5	-18	-7	-6	-5	-4
Operating Income (Loss)	- -	-2	-1	-2	-18	-7	-6	-4	-3

Liquidity (USD)

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	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y
Cash Ratio	- -	1.84	0.11	0.35	0.03	0.09	0.21	0.03	0.18
Current Ratio	- -	3.2	1.9	0.83	0.09	1.16	1.06	0.32	0.53
Quick Ratio	- -	3.18	1.89	0.83	0.09	0.17	0.27	0.05	0.36
CFO/Avg Current Liab	- -	-1.38	-1.07	-1.18	-0.8	-0.58	-1.02	-0.85	-0.52
Common Equity/Total Assets	- -	-67.75	-51.9	-43.27	-187.4	-173.81	-180.39	-465.77	-415.01
Long-Term Debt/Equity (%)	- -	- -	- -	99.85	19.25	0.71	7.62	0.61	37.98
Long-Term Debt/Capital (%)	- -	- -	- -	300.53	-5.98	-0.32	-3.24	-0.09	-5.88
Long-Term Debt/Total Assets (%)	- -	- -	- -	37.58	9.14	0.47	4.78	0.37	17.36
Total Debt/Equity (%)	- -	- -	- -	117.76	35.89	6.06	17.81	3.1	85.36
Total Debt/Capital (%)	- -	- -	- -	354.43	-11.16	-2.7	-7.56	-0.44	-13.22
Total Debt/Total Assets (%)	- -	- -	- -	44.32	17.04	4.05	11.17	1.86	39.02
CFO/Total Liabilities	- -	-36.58	-54.47	-26.47	-55.46	-55.33	-77.21	-101.83	-30.93
CFO/CapEx	- -	-9.59	-12.62	-1.04	-11.64	-10.75	-7.74	-3.61	-3.31
Altman's Z-Score	- -	-2.84	3.65	3.71	-1.87	2.86	1.29	-5.85	-7.53

Working Capital (USD)

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	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y
Accounts Receivable Turnover	- -	- -	- -	- -	2.18	- -	- -	- -	2.25
Days Sales Outstanding	- -	- -	- -	- -	167.6	- -	- -	- -	162.11
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	0.49	0.13	- -	1.89	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	746.51	2,778.86	- -	193.46	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	-25.86	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	167.6	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y
Market Capitalization	- -	- -	8	72	65	55	48	15	18
- Cash & Cash Equivalents	- -	1	- -	1	- -	- -	1	- -	1
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	2	2	3	3	3	9
+ Total Debt	- -	- -	- -	6	2	1	2	- -	4
Enterprise Value	- -	-1	7	78	69	58	52	18	31
Total Capital	- -	-2	-2	2	-18	-22	-22	-32	-32
Total Debt/Capital (%)	- -	- -	- -	354.43	-11.16	-2.7	-7.56	-0.44	-13.22
Total Debt / EV	- -	- -	- -	0.08	0.03	0.01	0.03	0.01	0.14
EV/Sales	- -	- -	- -	- -	428.79	- -	- -	- -	290.57
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	- -	- -	- -	46.75	- -	- -	- -	- -	- -
Diluted Market Cap	- -	- -	8	72	65	55	48	15	18
Diluted Enterprise Value	- -	-1	8	78	69	58	52	18	31
EV per Share	- -	- -	0.2	1.94	1.27	0.94	0.76	0.24	0.35
TTM Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM EBITDA	- -	-2	-1	-2	-18	-7	-6	-4	-3
TTM Operating Income	- -	-2	-1	-2	-18	-7	-6	-4	-3
TTM Cash Flow to Firm	- -	- -	- -	-1	-3	-3	-4	-2	-2
TTM Free Cash Flow to Firm	- -	- -	- -	2	-3	-2	-4	-1	-1

Multiples (USD)

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	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y
Price/Free Cash Flow	- -	- -	-16.27	-853.41	-20.86	-22.79	-12.59	-6.61	-14.09
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	- -	-1	7	78	69	58	52	18	31
Low Price	- -	- -	0.2	0.1	0.58	0.35	0.26	0.1	0.12
EV/Sales	- -	- -	- -	- -	428.79	- -	- -	- -	290.57
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	- -	- -	35.37	- -	- -	- -	- -	- -	- -
Price/Earnings Average	- -	- -	98.95	-7.51	-5.81	-21.53	-23.95	-2.2	-1.83
Price/Earnings High	- -	- -	150.33	-17.91	-10.41	-36.58	-37.64	-4.4	-2.59
Price/Earnings Low	- -	- -	35.37	-1	-1.98	-6.43	-9.09	-0.88	-1.04
Price/Book Value	- -	- -	-3.81	-11.83	-2.96	-2.18	-1.75	-0.42	-0.4
Price/Book Value Average	- -	- -	-10.66	-4.99	-4.2	-2.87	-1.72	-0.52	-0.4
Price/Book Value High	- -	- -	-16.19	-11.89	-7.53	-4.88	-2.7	-1.05	-0.57
Price/Book Value Low	- -	- -	-3.81	-0.66	-1.43	-0.86	-0.65	-0.21	-0.23
Price/Tangible Book Value	- -	- -	2.63	13.63	11.72	5.68	5.02	3.25	7.95
Price/Tangible Book Value Average	- -	- -	7.36	5.75	16.61	7.48	4.93	4.07	8.03
Price/Tangible Book Value High	- -	- -	11.19	13.71	29.78	12.71	7.75	8.13	11.35
Price/Tangible Book Value Low	- -	- -	2.63	0.77	5.66	2.24	1.87	1.63	4.54
Price/Sales	- -	- -	- -	- -	404.53	- -	- -	- -	172.4
Price/Sales Average	- -	- -	- -	- -	573.35	- -	- -	- -	174.15
Price/Sales High	- -	- -	- -	- -	1,028.19	- -	- -	- -	246.29
Price/Sales Low	- -	- -	- -	- -	195.52	- -	- -	- -	98.52
Price/Cash Flow	- -	- -	-14.59	-30.99	-19.06	-20.67	-10.96	-4.77	-9.83
Price/Cash Flow Average	- -	- -	-40.82	-13.07	-27.02	-27.2	-10.76	-5.98	-9.93
Price/Cash Flow High	- -	- -	-62.02	-31.17	-48.45	-46.21	-16.91	-11.94	-14.04
Price/Cash Flow Low	- -	- -	-14.59	-1.74	-9.21	-8.13	-4.08	-2.39	-5.62
Price/Free Cash Flow Average	- -	- -	-45.51	-359.75	-29.56	-29.99	-12.36	-8.27	-14.23
Price/Free Cash Flow High	- -	- -	-69.15	-858.21	-53.01	-50.95	-19.42	-16.52	-20.12
Price/Free Cash Flow Low	- -	- -	-16.27	-47.94	-10.08	-8.96	-4.69	-3.3	-8.05
EV/Sales Average	- -	- -	- -	- -	597.61	- -	- -	- -	292.32
EV/Sales High	- -	- -	- -	- -	1,052.45	- -	- -	- -	364.46
EV/Sales Low	- -	- -	- -	- -	219.78	- -	- -	- -	216.68
EV/EBITDA Average	- -	0.43	-37.63	-15.93	-5.37	-11.05	-9.16	-5.33	-10.09
EV/EBITDA High	- -	0.43	-57.21	-34.06	-9.45	-18.46	-13.97	-9.86	-12.58
EV/EBITDA Low	- -	0.43	-13.4	-4.59	-1.97	-3.61	-3.92	-2.61	-7.48
EV/EBIT Average	- -	0.42	-36.27	-15.75	-5.3	-10.62	-8.7	-4.96	-9.22
EV/EBIT High	- -	0.42	-55.15	-33.67	-9.33	-17.74	-13.28	-9.17	-11.49
EV/EBIT Low	- -	0.42	-12.91	-4.54	-1.95	-3.47	-3.73	-2.42	-6.83
Last Price	- -	- -	0.2	1.78	1.2	0.89	0.7	0.2	0.21
High Price	- -	- -	0.85	1.79	3.05	1.99	1.08	0.5	0.3
Enterprise Value Average	- -	-1	21	37	96	76	51	22	31
Enterprise Value High	- -	-1	32	79	169	126	77	41	38
Enterprise Value Low	- -	-1	7	11	35	25	22	11	23

	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y
Shares Outstanding	39	39	37	51	57	67	69	81	94
Diluted Weighted Avg Shares	- -	31	39	40	54	62	68	75	86
Basic Weighted Avg Shares	- -	31	38	40	54	62	68	75	86
Revenue per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA per Share	- -	-0.07	-0.01	-0.06	-0.33	-0.11	-0.08	-0.06	-0.04
Operating Income per Share	- -	-0.07	-0.02	-0.06	-0.33	-0.11	-0.09	-0.06	-0.04
Basic EPS, GAAP	- -	-0.07	0.01	-0.1	-0.29	-0.05	-0.03	-0.11	-0.12
Basic EPS from Cont Ops	- -	-0.07	0.01	-0.1	-0.3	-0.06	-0.07	-0.11	-0.23
Diluted EPS, GAAP	- -	-0.07	0.01	-0.1	-0.29	-0.05	-0.03	-0.11	-0.12
Diluted EPS from Cont Ops	- -	-0.07	0.01	-0.1	-0.3	-0.06	-0.07	-0.11	-0.23
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	- -	-0.01	-0.01	-0.06	-0.06	-0.04	-0.06	-0.04	-0.02
Free Cash Flow per Basic Share	- -	-0.01	-0.01	-0.11	-0.07	-0.05	-0.07	-0.05	-0.03
Cash & Equivalents per Share	- -	0.03	- -	0.03	- -	0.01	0.01	- -	0.01
Book Value per Share	- -	-0.07	-0.05	-0.15	-0.41	-0.41	-0.4	-0.48	-0.53
Tangible Book Value per Share	- -	0.07	0.08	0.13	0.1	0.16	0.14	0.06	0.03

Firma Holdings Corp.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)